Bill O’Neill Celebrates the 73rd Anniversary of Social Security by Pledging to Fight Privatization
WICKLIFFE (August 14, 2008) – Democratic Congressional candidate Bill O’Neill today marked the 73rd anniversary of the creation of Social Security by promising to protect and strengthen this crucial safety net for American seniors. O’Neill also committed to fighting all efforts to privatize Social Security, refusing to gamble with our seniors’ well-being.
“For 73 years, seniors and people with disabilities have enjoyed economic security and a dignified retirement because of Social Security,” said Bill O’Neill. “I believe it is our nation’s responsibility to protect the future of Social Security by fighting President Bush and Steve LaTourette’s efforts to privatize Social Security. Steve LaTourette is willing to let our seniors’ well-being be tied to the ups and downs of Wall Street. I’m not.”
Background
- Social Security was created when President Franklin Roosevelt signed the Social Security Act into law on August 14, 1935 [http://www.ssa.gov/history/briefhistory3.html]
- Social Security is a uniquely American system that guarantees, regardless of how the stock market is doing – seniors will be taken care of when they retire.
- Without Social Security, more than 50 percent of American seniors would be living in poverty.
- According to the Social Security Office of Policy Data, there are roughly 115,000 residents on Social Security in the 14th district. [http://www.socialsecurity.gov/policy/docs/factsheets/cong_stats/2007/]
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